A cooperative, including a cooperative that requires a membership fee rather than the holding of membership stock as a prerequisite of membership, may issue the number of shares of capital stock stated in its articles. The shares may be divided into more than one class with the designations, preferences, limitations and relative rights stated in the articles, except that capital stock has no voting power except as specifically authorized in this chapter.
Section: Previous 10.15.010 10.15.015 10.15.020 10.15.025 10.15.030 10.15.035 10.15.040 10.15.045 10.15.050 10.15.055 10.15.060 10.15.065 10.15.070 10.15.075 10.15.080 NextLast modified: November 15, 2016